The dollar weakened broadly on Monday, pushing the euro above $1.50, after a weekend G20 meeting and US jobs data last week did little to alter the view that US. interest rates will stay low for some time.

The conviction that US - and other - interest rates will remain low for the forseeable future and liquidity still plentiful boosted demand not just for non-dollar currencies but for a range of other assets from equities to gold.

Traders also noted that the Group of 20 finance ministers and central bankers meeting at the weekend did not dwell on exchange rates, suggesting policymakers were not too concerned with the dollar's weakness, which remains relatively orderly.

"With that, the dollar is going to remain in a structural downturn," said Paul Mackel, senior currency strategist at HSBC in London.

"It looks like the market waited for the event risk to pass then sell the dollar, even though that seems to be the consensus view," he added.

The dollar's broad value against six major currencies as measured by the dollar index fell 1 percent and the euro rose back above the psychologically key $1.50 level as "risk appetite" spread through financial markets.

"It really is a true expression of how poor dollar sentiment is right now," Mackel added, noting sterling's rise to a three-month high above $1.68 and even the low-yielding yen's relatively robust performance against the greenback.
  
But it's orderly, and that's the key thing. The dollar's going to remain a sell on rallies." At 1110GMT the dollar index was down 1 percent at 74.992, closing in on last month's trough of 74.94, a low not seen since August 2008.

The euro was up more than 1 percent at $1.5010, coming back within sight of last month's 2009 high of $1.5064.-Reuters